Journal, Ledger and Trail Balance- Accounting Solved Solution Sample

QUESTION

 

 

 

ANSWER

 

Trail Balance

REVERE COURIER COMPANY
Unadjusted Trial Balance
December 31
  Debit Credit
  Balances Balances
Cash $95,620 $0
Accounts Receivable $17,470 $0
Maintenance Supplies $10,900 $0
Office Supplies $6,015 $0
Office Equipment $33,000 $0
Accumulated Depreciation – Office Equipment $0 $6,900
Vehicles $173,000 $0
Accumulated Depreciation – Vehicles $0 $14,700
Accounts Payable $0 $4,025
S. Holmes, Capital $0 $289,250
S. Holmes, Drawing $3,000 $0
Fees Earned $0 $58,410
Driver Salaries Expense $16,900 $0
Maintenance Supplies Expense $3,200 $0
Fuel Expense $600 $0
Office Salaries Expense $7,100  
Rent Expense $4,200 $0
Advertising Expense $1,780 $0
Miscellaneous Administrative Expense $500 $0
Totals $373,285 $373,285

 

Revenue Journal

REVENUE JOURNAL
    Inv.   Post. Accts. Rec. Dr.
Date No. Account Debited Ref. Fees Earned Cr.
         
Dec. 2 940 Clifford Co. √ $1,740
  6 941 Ernesto Co. √ $3,870
  10 942 Joy Co. √ $1,970
  24 943 Sing Co. √ $6,100
  25 944 Ernesto Co. √ $5,530
  31   Total   $19,210

 

Purchase

PURCHASES JOURNAL
      Post. Accounts
Payable
(cr)		 Maintenance Supplies
(dr)		 Office
Supplies
(dr)		   Post.  
Date Account Credited Ref.   Debit Debit Other Accounts
(dr)		 Ref. Amount
                 
Dec. 5 Platinum Motors √ $37,300 $0 $0 Vehicles 18 $37,300
  6 Austin Computer Co. √ $4,500 $0 $0 Office Equipment 16 $4,500
  18 Essential Supply Co. √ $1,750 $1,750 $0 N/A – $0
  19 McClain Co. √ $1,875 $1,500 $375 N/A – $0
  23 Office To Go Inc. √ $400 $0 $400 N/A – $0
  31 Totals   $45,825 $3,250 $775     $41,800

 

Cash Payments

 

CASH PAYMENTS JOURNAL  
    Ck.   Post. Other Accts.
Debit		 Accts. Payable Cash
Date No. Account Debited Ref.   Debit Credit
             
Dec. 1 610 Rent Expense 62 $4,200 $0 $4,200
  9 611 Fuel Expense 53 $600 $0 $600
  10 612 Office To Go Inc. √ $0 $330 $330
  11 613 Essential Supply Co. √ $0 $3,090 $3,090
  11 614 Porter Co. √ $0 $500 $500
  13 615 Platinum Motors √ $0 $37,300 $37,300
  16 616 Vehicles 18 $39,800 $0 $39,800
  17 617 Misc. Admin. Expense 64 $500 $0 $500
  20 618 Advertising Expense 63 $1,780 $0 $1,780
  24 619 S. Holmes, Drawing 32 $3,000 $0 $3,000
  26 620 Austin Computer Co. √ $0 $4,500 $4,500
  30 621 Driver Salaries Expense 51 $16,900 $0 $16,900
      Office Salaries Expense 61 $7,100 $0 $7,100
  31 622 Office Supplies 15 $340 $0 $340
  31   Totals   $74,220 $45,720 $119,940

 

Cash Receipts

CASH RECEIPTS JOURNAL
      Post. Other Accts.
Credit		 Accts. Receivable Cash
Date Account Credited Ref. Credit Debit
           
Dec. 3 Ryan Co. √ $0 $4,800 $4,800
  10 Sing Co. √ $0 $4,040 $4,040
  12 Clifford Co. √ $0 $1,740 $1,740
  16 Fees Earned 41 $20,300 $0 $20,300
  25 Ryan Co. √ $0 $4,100 $4,100
  31 Fees Earned 41 $18,900 $0 $18,900
  31 Totals   $39,200 $14,680 $53,880

 

1,3 and 4

GENERAL LEDGER
Cash                           11  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √             161,680      
  31     …………………………… CR31   53,880     –   215,560   –  
  31     …………………………… CP34   –     119,940   95,620   –  
                               
                               
Accounts Receivable                           12  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √             12,940      
  31     …………………………… R35   19,210     –   32,150   –  
  31     …………………………… CR31   –     14,680   17,470   –  
                               
                               
Maintenance Supplies                           14  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √             10,850      
  20     …………………………… J1   –     3,200   7,650   –  
  31     …………………………… P37   3,250     –   10,900   –  
                               
                               
Office Supplies                           15  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √             4,900      
  31     …………………………… P37   775     –   5,675   –  
  31     …………………………… CP34   340     –   6,015   –  
                               
                               
Office Equipment                           16  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √             28,500      
  6     …………………………… P37   4,500     –   33,000   –  
                               
                               
Accumuluated Depreciation – Office Equipment                           17  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √   …………….     …………….   …………….   6,900  
                               
                               
Vehicles                           18  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √             95,900      
  5     …………………………… P37   37,300     –   133,200   –  
  16     …………………………… CP34   39,800     –   173,000   –  
                               
                               
Accumuluated Depreciation – Vehicles                           19  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √   …………….     …………….   …………….   14,700  
                               
                               
Accounts Payable                           21  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √                 3,920  
  31     …………………………… P37   –     45,825   –   49,745  
  31     …………………………… CP34   45,720     –   –   4,025  
                               
                               
S. Holmes, Capital                           31  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     Balance √   …………….     …………….   …………….   289,250  
                               
                               
S. Holmes, Drawing                           32  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 24       CP34   3,000     –   3,000   –  
                               
                               
Fees Earned                           41  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 16     …………………………… CR31   –     20,300   –   20,300  
  31     …………………………… CR31   –     18,900   –   39,200  
  31     …………………………… R35   –     19,210   –   58,410  
                               
                               
Driver Salaries Expense                           51  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 30     …………………………… CP34   16,900     –   16,900   –  
                               
                               
Maintenance Supplies Expense                           52  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 20     …………………………… J1   3,200     –   3,200   –  
                               
                               
Fuel Expense                           53  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 9     …………………………… CP34   600     –   600   –  
                               
                               
Office Salaries Expense                           61  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 30     …………………………… CP34   7,100     –   7,100   –  
                               
                               
Rent Expense                           62  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 1     …………………………… CP34   4,200     –   4,200   –  
                               
                               
Advertising Expense                           63  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 20     …………………………… CP34   1,780     –   1,780   –  
                               
                               
Miscellaneous Administrative Expense                           64  
          Post.             Balance  
Date     Item Ref.   Debit     Credit   Debit   Credit  
                             
Dec. 17     …………………………… CP34   500     –   500   –  
                             

 

2 and 4

PURCHASES JOURNAL Page 37  
            Post.   Accts. Payable
Credit		   Maint. Supplies   Office Supplies       Post.      
Date     Account Credited   Ref.     Debit   Debit   Other Accounts Debit   Ref.   Amount  
                                         
Dec. 5     Platinum Motors   √   37,300   –   –   Vehicles   18   37,300  
  6     Austin Computer Co.   √   4,500   –   –   Office Equipment   16   4,500  
  18     Essential Supply Co.   √   1,750   1,750   –   N/A   –   –  
  19     McClain Co.   √   1,875   1,500   375   N/A   –   –  
  23     Office To Go Inc.   √   400   –   400   N/A   –   –  
  31     Totals       45,825   3,250   775           41,800  
                (21)   (14)   (15)           (√)  
                                         

 

CCCCCCCCCASH RECEIPTS JOURNAL   Page 31  
            Post.   Other Accts.
Credit		   Accts. Receivable   Cash  
Date     Account Credited   Ref.     Credit   Debit  
                             
Dec. 3     Ryan Co.   √   –   4,800   4,800  
  10     Sing Co.   √   –   4,040   4,040  
  12     Clifford Co.   √   –   1,740   1,740  
  16     Fees Earned   41   20,300   –   20,300  
  25     Ryan Co.   √   –   4,100   4,100  
  31     Fees Earned   41   18,900   –   18,900  
  31     Totals       39,200   14,680   53,880  
                (√)   (12)   (11)  
                             
REVENUE JOURNAL Page 35
      Inv.     Post. Accts. Rec. Dr.  
Date   No. Account Debited   Ref. Fees Earned Cr.  
                     
Dec. 2   940 Clifford Co.   √   1,740  
  6   941 Ernesto Co.   √   3,870  
  10   942 Joy Co.   √   1,970  
  24   943 Sing Co.   √   6,100  
  25   944 Ernesto Co.   √   5,530  
  31     Total       19,210  
                (12) (41)  
                     
CCCCCCCCCASH PAYMENTS JOURNAL   Page 34  
      Ck.     Post.   Other Accts.
Debit		   Accts. Payable   Cash  
Date   No. Account Debited   Ref.     Debit   Credit  
                             
Dec. 1   610 Rent Expense   62   4,200   –   4,200  
  9   611 Fuel Expense   53   600   –   600  
  10   612 Office To Go Inc.   √   –   330   330  
  11   613 Essential Supply Co.   √   –   3,090   3,090  
  11   614 Porter Co.   √   –   500   500  
  13   615 Platinum Motors   √   –   37,300   37,300  
  16   616 Vehicles   18   39,800   –   39,800  
  17   617 Misc. Admin. Expense   64   500   –   500  
  20   618 Advertising Expense   63   1,780   –   1,780  
  24   619 S. Holmes, Drawing   32   3,000   –   3,000  
  26   620 Austin Computer Co.   √   –   4,500   4,500  
  30   621 Driver Salaries Expense   51   16,900   –   16,900  
        Office Salaries Expense   61   7,100   –   7,100  
  31   622 Office Supplies   15   340   –   340  
  31     Totals       74,220   45,720   119,940  
                (√)   (21)   (11)  
                               
                               
JOURNAL Page 1  
                    Post.          
Date     Description     Ref.   Debit   Credit  
                             
Dec. 20     Maintenance Supplies Expense     52   3,200      
        Maintenance Supplies     14       3,200  
                             
                       
  REVERE COURIER COMPANY  
  Unadjusted Trial Balance  
  December 31  
              Debit     Credit  
              Balances     Balances  
  Cash           95,620     –  
  Accounts Receivable           17,470     –  
  Maintenance Supplies           10,900     –  
  Office Supplies           6,015     –  
  Office Equipment           33,000     –  
  Accumulated Depreciation – Office Equipment           –     6,900  
  Vehicles           173,000     –  
  Accumulated Depreciation – Vehicles           –     14,700  
  Accounts Payable           –     4,025  
  S. Holmes, Capital           –     289,250  
  S. Holmes, Drawing           3,000     –  
  Fees Earned           –     58,410  
  Driver Salaries Expense           16,900     –  
  Maintenance Supplies Expense           3,200     –  
  Fuel Expense           600     –  
  Office Salaries Expense           7,100        
  Rent Expense           4,200     –  
  Advertising Expense           1,780     –  
  Miscellaneous Administrative Expense           500     –  
  Totals           373,285     373,285  
                     

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